BTC Price Struggles as ETF Outflows Extend to Six Straight Weeks

Bitcoin's price struggles to rebound as institutional selling persists, despite progress in US-Iran peace talks. The cryptocurrency has been trading around $64,000 on Monday after a nearly 4% decline last week.

The ongoing tensions between the two countries have kept investors cautious, with geopolitical uncertainty remaining elevated.

According to SoSoValue data, spot Bitcoin ETFs recorded their sixth consecutive week of withdrawals, amounting to $226.84 million. This continued selling pressure weighs on Bitcoin's price outlook, with one expert stating that 'the market is still looking for a strong enough catalyst to break out of the range-bound conditions seen over the past several weeks.'

The rebound in the US dollar and elevated US Treasury yields have also contributed to the decline in institutional demand for Bitcoin.